МІНІСТЕРСТВО ОСВІТИ І НАУКИ УКРАЇНИ

КИЇВСЬКИЙ НАЦІОНАЛЬНИЙ ЕКОНОМІЧНИЙ УНІВЕРСИТЕТ

СЛУХАЙ ТА ГОВОРИ

АНГЛІЙСЬКОЮ ПРО ЕКОНОМІКУ

ПОСІБНИК З АУДІЮВАННЯ

ДЛЯ СТУДЕНТІВ

Укладачі:

Р. А. ГАРАЩЕНКО

Н. А. МОВЧАНЮК

Київ 2003

ББК 81.2 Англ.

С 49

Рецензенти:

Т. А. Гузік , канд. пед. наук

(Київський національний економічний університет)

Е. І. Щукіна , Т. І. Петрова , кандидати пед. наук

(Київський національний університет будівництва і архітектури)

Рекомендовано на засіданні кафедри іноземних мов ФЕФ

Протокол № 10 від 06.06.2002 р.

Слухай та говори англійською про економіку: Посібник

С 49 з аудіювання для студ. / Уклад. Р. А. Гаращенко, Н. А. Мовчанюк. — К.: КНЕУ, 2003. — 98 с.

ISBN 966-574-444-5

Посібник з аудіювання для студентів економічних факультетів містить комплекс завдань та вправ до текстів та діалогів з фахової тематики, які записані на аудіокасеті.

Мета посібника — розвиток навичок та вмінь сприйняття на слух мовних моделей, з подальшим використанням їх у процесі обговорення проблемних питань за фахом, а також формування навичок письма.

Посібник може бути використаний як на аудиторних заняттях, так і для самостійної роботи студентів.

У кінці книги для студентів є словник спеціальних термінів (Glossary), який сприятиме збагаченню словникового запасу студентів економічних спеціальностей.

ББК 81.2 Англ.

Р. А. Гаращенко, Н. А. Мовчанюк, укладання, 2003

ІSBN 966-574-444-5 КНЕУ, 2003

SOME CONFLICTING MANAGEMENT PHILOSOPHIES

1. Pre-Listening Task

1.1. Do you feel all companies must be predominantly marketoriented?

1.2. Is there a danger that if a company is too market-oriented it will ignore other ingredients of success such as efficient production?

2. Listening and note-taking

You will hear a discussion about the direction a certain company should take. There are five participants. Each expresses a different view. These views can be summarized as follows:

A. The production concept

The company should focus on improving production and distribution efficiency.

B. The product concept

The company should focus on making product improvements.

C. The selling concept

The company should focus its effort on selling and promotion.

D. The marketing concept

The company should focus on the needs of its customers.

E. The societal marketing concept

The company should consider the needs not only of its customer but also of society as a whole.

As you listen to the discussion, allocate one of the concepts (A— E) to each of the speakers (1—5):

Speakers Concept

1 2 3 4 5

3. Comprehension check

3.1. How does speaker 1 aim to bring down prices?

3.2. How does speaker 3 intend to develop a strategy for the future?

3.3. What added dimension does speaker 4 include?

3.4. Why does speaker 5 mention the Japanese?

4. Language focus

4.1. Opinion-giving

Look at the following sentences taken from the Listening passage:

«I feel we must certainly ensure quality...»

«As I see the problem, the major focus...»

Now substitute the italicized phrases in the sentences below with the closest equivalent selected from the following list:

I feel In my opinion It’s certain

We could discuss What we must do is I tend to think

I’m sure that From this point of view

1. As I see it , we should double our development investment.

2. What we have to do is withdraw from this sector.

3. I think we can’t continue as we are.

4. I’m inclined to believe we should leave this sector.

5. I’m convinced that we must stay in this sector.

6. We might consider a gradual withdrawal from the market.

7. There’s no doubt we can’t leave it any later.

8. From this angle , we have no alternative.

4.2. Agreeing and disagreeing

Look at the following sentences taken from the Listening passage

«I think we’d all agree with you as far as you go».

«I’m not sure I agree with either of you».

Now match opposing comments in terms of strength/neutrality/weakness, for example: I agree — I disagree.

5. Word study

What are the opposites of the following words and expressions?

Use a dictionary if necessary.

1. improvement

2. available

3. competitive

4. effective

5. inside-out

6. investment

7. to bring down prices

8. to stay ahead

9. mass-market

6. Discussion

Discuss the probable management philosophies of the following companies:

A traditional family-run company manufacturing machine tools.

A young, high-tech company operating in state-of-the-art electronics.

A large national utility providing a service throughout the country.

PORTFOLIO ANALYSIS

1. Pre-Listening Task

1.1. Do you feel that the process of conglomeration («big is beautiful») will continue into the next century?

1.2. What do you see as the dangers of diversification?

2. Listening and note-taking

Listen to the extract from the consultant’s presentation. As you

listen complete Chart 1.

Chart 1

3. Comprehension check

3.1. Complete the structure of the consultant’s presentation: (і) Analysis of main business areas.

(іі) __________________________________________________

(iii) __________________________________________________

3.2. Why are products in the bottom left-hand quadrant called cash cows?

3.3. Why are products in the top right-hand quadrant called question marks?

3.4. Why are products in the top left-hand quadrant called stars?

3.5. What objectives does the consultant propose for the following products?

(i) XT 2500

(ii) XT 380

(iii) XT 25 B

(iv) XT 25

4. Language focus

4.1. Look at the following sentences taken from the Listening passage:

«I’m going to divide my presentation into three parts»

«Firstly an analysis...»

Now rearrange the following introduction into a sensible order: a. If you have any questions, please feel free to interrupt me.

b. Good morning, ladies and gentlemen.

c. I’d like to talk to you today about milk marketing.

d. Finally I’ll turn to the question of price.

e. I’ll be looking at it from three points of view.

f. How many of you had milk with your breakfast this morning?

g. Firstly, the product and its forms.

h. Perhaps with your cornflakes, maybe with your tea or coffee or

even by itself?

i. Secondly, its distribution — in particular door-to-door deliveries.

4.2. Link phrases for presentations

Look at the following sentences taken from the Listening passage.

«Right, to start with the analysis». «So, let’s тоvе on to the next quadrant».

Now match the phrase with its function

5. Word study

Decide how many of the words on the right can be combined with the verbs on the left.

For example:

to achieve + a. objectives

+ d. profits

6. Transfer

Write a summary of the consultant’s analysis and recommended

objectives. Add some possible strategies to achieve these objectives.

CONTACT METHODS USED IN MARKET RESEARCH

1. Pre-Listening Task

1.1. Would you fill in a market research questionnaire sent to you by mail?

1.2. Do you always respond honestly to market research interviews?

2. Listening and note-taking

Listen to the discussion about contact methods in market research. As you listen, complete Chart 2 using the following code to signify the strengths and weaknesses of the three methods:

- = excellent 0 = satisfactory

-= good × = poor

Chart 2

3. Comprehension check

3.1. What is meant by interviewer bias?

3.2. Why is the response rate very low for mail questionnaires?

3.3. What is the difference between a street interview and a focus group?

4. Language focus

4.1. Comparison of adjectives

Look at the following sentences taken from the Listening passage:

«The cost will be considerably lower than the other methods».

«You tend to get more honest answers…»

Now complete the following sentences using the adjective in brackets:

1. Our production methods have become much _______. (modern)

2. It’s become __________ to forecast our results. (easy)

3. My new job is much ____. (interesting)

4. We did a lot ________ than we expected. (good)

5. He couldn’t have done ________. (bad)

6. We need to use a ____________ approach than we have been employing. (direct)

7. Our aims have become much _______ as the market has become more segmented. (narrow)

8. I feel the problem is _______ than you are saying. (superficial)

9. It’s _________ than we anticipated. (funny)

10. Our share is slightly ________ than forecast. (high)

4.2. Adjective modification — degree

Look at the following sentences taken from the Listening passage:

«Mail questionnaires are much less flexible...» «It’s a lot more flexible…»

Now classify the following modifiers as: (A) strong, (B) neutral, (C) weak.

1. moderately

2. a little

3. slightly

4. considerably

5. quite a lot

6. a lot

7. much

8. somewhat

9. a bit

5. Word study

Complete the table below with suitable adjectives:

Concept Adjective Opposite adjective size large/big small cost

NOTE: In many cases there is more than one possible adjective.

6. Transfer

Write a short memo comprising:

a summary of different contact methods,

conclusions on the best method, and

a recommendation for the choice of method and its implementation.

PUBLICS

1. Pre-Listening Task

1.1. How important do you feel a company’s image is in terms of

product sales?

1.2. Do you think pressure groups such as environmentalists have a positive or negative influence on a manufacturing company’s development?

2. Listening and note-taking

Listen to an extract from a meeting between a marketing director and his public relations manager. They are talking about the company’s planned PR activities. As you listen, complete Chart 3.

Chart 3

3. Comprehension check

3.1. What does PR stand for?

3.2. Why does the company organize a press conference when the six-monthly results are announced?

3.3. What does the legal department do regarding government legislation?

3.4. Why do you think the «Greens» will be pleased about the

closure of the plant?

4. Language focus

4.1. Present continuous — future reference

Look at the following sentence taken from the Listening passage:

«Our press relations officer is organizing a press conference in a couple of months’ time...»

Now change the following sentences so that they express fixed arrangements rather than intentions:

1. The managing director is going to fly to Dubai next week.

2. The production department aims to install a new machine next month.

3. What are you planning to do at the weekend?

4. The chairman intends to resign in the next few months.

5. The marketing department plans to move offices soon.

6. Which market do you intend to concentrate on next year?

7. Our strategy is going to be implemented during the year.

8. We aim to increase prices during the next quarter.

4.2. Going to — future reference

Look at the following sentences taken from the Listening passage:

«There’s going to be a piece about the drug...»

«It’s going to be important...»

Now read through the following dialogue. Correct the verbs in italics if you think it necessary:

A: How’s the press release going?

В: Oh, I haven’t finished it yet. Don’t worry, it’s going to be ready

on time. A: Good. I’ve got a meeting with the ad agency tomorrow at 9.

Could you come ?

В: Just a moment. I’m going to look at my diary ... Yes, that’s going to be okay. What will you discuss ?

A: We will talk about the new campaign.

В: Right, I’m certainly going to be there.

A: Great. Look, I will go to lunch in half an hour. What about talking it over together first?

В: Sorry, I’ve got another appointment at lunch. We could meet later this afternoon, if you like?

A: Okay, let’s say 4 o’clock in my office. В: Fine, I’m going to be there.

5. Word study

Find the best synonym. Match the words and expressions on the left with those on the right.

6. Transfer

Now write a press release based on the activities planned by the PR department.

ORGANIZATIONAL BUYER BEHAVIOUR

1. Pre-Listening Task

1.1. What differences do you think there are between consumer and industrial buying behaviour?

1.2. How important do you think relationships (personal factors) are in the industrial buying process?

2. Listening and note-taking

Listen to the discussion among three members of a purchasing department. As you listen, indicate the ranking (1—3) they give to the factors identified in Chart 4.

«A», the first speaker is Mark, «B» is the chairman, «C», and the

second speaker is Peter.

Chart 4

3. Comprehension check

3.1. Why does the first speaker prioritize financial strength?

3.2. Why do you think he feels price is not such an important factor in the case of special purchases?

3.3. Why is the chairman surprised that neither of the previous speakers have prioritized repair service?

3.4. Why does the chairman need to agree on a ranking for these factors?

4. Language focus

4.1 Conditionals

Look at the following sentence taken from the Listening passage:

«If I had to choose for our routine purchases, I’d put quality first...» Make theoretical or hypothetical statements about the following situations:

boss resigns get his job! strike negotiate with unions

stop smoking much healthier

1. If demand slumped, ___________________________________

4.2. Either/neither

Look at the following sentences taken from the Listening passage:

«I’m not sure I agree entirely with either of you ». «I’m surprised neither of you mentioned repairs». Complete the following sentences with:

Either neither too nor or both

1. John and Sarah ________ agree. Peter does _________.

2. _______ Simon _______ Ann agree with you. They _____ think you are crazy.

3. You can ______ leave the firm of your own free will ______ be fired. In any case, I want you out.

4. ______ Peter ______ Roger like living in London. I don’t like it ________.

5. _______ Marketing and Production share the same opinion about the need for higher quality. However, ______ of them have come forward with any concrete proposals.

5. Word study

The six criteria are listed below. Match the adjectives with criteria to which they may apply:

6. Transfer

Below is an extended list of supplier attributes. Draw up your own system of weighting (prioritizing) for the ten most important attributes. Write a short memo explaining why you have decided on this order.

POSITIONING IN A SEGMENT

1. Pre-Listening Task

Some companies produce very similar products (e. g. a number of brands of detergent) under different names and then position them differently in the same market.

What are the advantages of doing this?

2. Listening and note-taking

Listen to the product management meeting. They are discussing how the new dental gum should be positioned in the market. As you listen, use Chart 5 to indicate the preferences of the speakers.

Chart 5

3. Comprehension check

3.1. How long have they been developing Dentigum?

3.2. When was Dentimint launched?

3.3. What monthly sales figure has Dentimint been achieving?

3.4. What supports speaker 1’s argument in favour of usage

positioning?

3.5. How long has their company been in dental care?

3.6. What is the danger of stressing the breakthrough in a new product class area?

4. Language focus

4.1. Present perfect versus past simple

Look at the following sentences taken from the Listening passage:

«Dentigum has been developed over the last two years».

«Dentimint was launched four months ago».

Now complete the following sentences by putting the verbs into either the present perfect or the past simple:

1. We _______________________ (reach) our targets last year.

2. Sales _________________ (fall) since the beginning of June.

3. Contracts ______ (be signed) but work _______ (not begin) yet.

4. The marketing department __________ (recruit) two new assistants so far this year.

5. We ________ (start) the advertising campaign last month and since then sales _________ (rocket).

6. Our research _____________ (be carried out) last year but I still ____________ (not see) the results.

7. Turnover _____ (rise) dramatically since we ____ (be founded).

8. We ______ (expect) a fall in profits last year as our costs nearly __________ (double).

9. We _____ already (sell) more units this year than we _________ (do) in the whole of last year.

10. He ______ (feel) we should __________ (not take on) so many salespeople last year.

4.2. Present perfect continuous

Look at the following sentence taken from the Listening passage:

«Dentinimt has been achieving monthly sales оf 50,000».

Now decide which of the following verbs can be put in the present perfect continuous in order to stress the ongoing nature of the event.

Make the necessary changes:

1. Liverpool has won all its matches this season.

2. Liverpool has played very well this season.

3. We have sold 250 units this quarter.

4. Our sales strategy has worked very well.

5. It has rained all day.

6. It has been cold since March.

7. He has been ill for two days. 8. I’ve tried to telephone you all day.

9. We have survived the competition.

10. Prices have fallen from 15p a unit to 12p.

5. Word study

Use the appropriate forms of the words/expressions below to complete the text: to beat someone to it a breakthrough to be in the field of

household name track record to make something of to build a customer base to trade on

Grade Health Care have an impressive 1. ______. They were the first 2. ______ of anti-rheumatic drugs when they made a 3. ______ in the treatment of arthritis. Some of their drugs in this field have become so well-known that they are 4. ______. They are now able to 5. ______ their name in this field to launch drugs in other areas. Although one of their competitors — Smithsons — 6. ______ it when they launched a new antibiotic, Grade have 7. ______ in this area too. They were able to 8. ______ of their antibiotic by stressing their reputation in other health areas.

6. Transfer

Write a short report summarising the targeting and positioning you recommend for Dentigum.

PRODUCT LINE DECISIONS

1. Pre-Listening Task

1.1. What are the dangers of being a one-product company?

1.2. What are the dangers of over-extending a company’s product spread?

2. Listening and note-taking

Listen to the presentation given by the managing director of the training organisation. As you listen, complete Charts 6 to 9.

Chart 6

PRODUCT MIX

English french Presentation skills Leadership skills

Chart 8

PRODUCT DEPTH

Chart 9

PRODUCT DEVELOPMENTS

a. Product mix + ____________________________________________________

b. Product line + ____________________________________________________

c. Product depth + __________________________________________________

3. Comprehension check

3.1. What is the difference between a public and a company seminar?

3.2. Do you think information technology training would be consistent with their existing product mix?

3.3. Which of the potential product development areas (mix, line or depth) would be the most risky?

4. Language focus

Look at the following sentences taken from the Listening passage:

«A second area might be to stretch one of the product lines...»

«Alternatively, we could focus on some of our more profitable training areas...»

Now match the expressions:

6. It’s impossible f. There’s a slight chance of success

g. We’re unlikely to reach 40,000

h. We might go bankrupt

i. There’s no chance of surviving

5. Word study

Many verbs have derivative forms (noun, adjectives, etc.). For example: to produce a product, production, productive, productivity

Complete the sentences below by inserting the right derivative of the verbs in brackets:

5.1. The contract is not _________. (to negotiate)

5.2. We did a very ___ survey of consumer behaviour. (to extend)

5.3. We need to assess the _______ qualities of our new managers. (to lead)

5.4. There is a _______ between product mix and product depth. (to distinguish)

5.5. He gave a____ about the company’s performance. (to present)

5.6. To increase ______, we have offered ______ bonuses to the employees. (to produce)

5.7. Before we can decide about developing new products, we need to know how _______ the existing products are. (to profit)

5.8. He’s one of the best _________ I’ve met. (to negotiate)

6. Discussion

Use the information in Charts 6 to 9 to deliver a brief report on the training organisation’s product profile and development potential.

PRICING DECISIONS

1. Pre-Listening Task

1.1. What do you think are the typical «mark-ups» on manufacturers’ prices for: tobacco products bakery products greeting cards perfumes

1.2. How does a retailer decide on the appropriate mark-up?

2. Listening and note-taking

Listen to the internal meeting about pricing. As you listen, complete Chart 10.

Chart 10

3. Comprehension check

3.1. What is another way of explaining going rate

3.2. What is the formula for calculating manufacturer’s costs?

3.3. How do consumers perceive Apollo?

3.4. What is the objective of their targets?

4. Language focus

4.1. Asking for clarification. Look at the following sentences taken from the Listening passage:

«Excuse me, what do you mean by going rate ?»

«I’m sorry, can you go over that again?»

Now complete the following dialogue with appropriate expressions:

A: The central problem is cannibalism.

B: ________________________________________ cannibalism?

A: Well, basically our new product taking sales away from our existing product. _________________________________________? B: Yes, I see what you __________________________________.

A: Now we have to weigh up the added sales and margin we gain and balance that against our losses.

B: ____________________________________________ slowly?

A: Of course. Well in order to calculate the real profit we gain from the launch of the ZX 21 we must take into account the lost sales on the ZX 20.

B: ___________________________________________________

A: Good, now this model here plots the projected sales of the ZX 21 over the first twelve months against the projected continued sales of the ZX 20. As you can see, the gap widens quite dramatically.

A: If I _______ , you’re _______ this gap represents lost sales? B: No, it’s not quite that simple.

4.2. Confirming and correcting statements.

Look at the following sentences taken from the Listening passage:

«That’s right».

«Correct me if I’m wrong? … No, that’s absolutely right».

Now study the figures in Chart 11 and then respond appropriately to the sentences below.

Chart 11

1. So at £20, we can expect profits of £100,000.

2. At a unit price of £19, we can presumably expect higher sales.

3. I suppose we can also expect appreciably higher profits.

4. So, if I understand you, you’re saying profits decrease as the

price goes down! 5. So there’s no benefit in charging a lower price?

6. Correct me if I’m wrong, these figures argue for a price of around £18?

5. Word study

Listen to the numbers/calculations on the cassette and write them down (you should find ten). When you have done this, practise saying the expressions.

6. Discussion

Use Chart 11 to present a summary of the pricing discussion and then draw your own conclusions and make recommendations for the pricing of this product.

PRICE ADJUSTMENT STRATEGIES

1. Pre-Listening Task

What sort of price adjustments can be offered to a customer in order to persuade him/her to buy for the first time or to remain loyal to a certain supplier?

2. Listening and note-taking

Listen to the telephone call between a customer and his supplier. As you listen, complete Chart 12.

Chart 12

3. Comprehension check

Listen again and complete Chart 13.

Chart 13

4. Language focus

Telephoning

Look at the following sentences taken from the Listening passage:

«Could you put me through to Mr. Stevens?»

«The reason I’m phoning is…»

Now put the following telephone call in the right order. The conversation is among the following three people:

A — the receptionist at Rogers Electronics

В — Max Roberts of Excel Marketing

С — Mr. Dickens, sales dept, Rogers Electronics

A: I’m sorry I didn’t catch your name. C: You’re welcome. Bye.

B: Certainly, perhaps you could give me his extension number’? A: Rogers Electronics. B: Yes, I’ll hang on.

C: Just a moment Mr. Roberts. I’ll put you on to our Market Research assistant... I’m sorry, he’s out at the moment, would you like to call back.

B. Good afternoon, this is Max Roberts from Excel Marketing. Could you put me through to your Sales Department? C: Yes, it’s 453. His name is Holden. John Holden.

A: Thank you, Mr. Roberts. I’ll try to put you through... I’m afraid the line’s busy at the moment. Will you hold?

B: Hello, my name’s Max Roberts. I’m from Excel Marketing. The reason I’m calling is that we are carrying out a market survey...

С: Sales. Dickens speaking.

В: Goodbye.

A: Right, Mr. Roberts. I’m putting you through.

В: It’s Roberts.

В: Thanks for уour help.

5. Discussion PAIR WORK

Partner A: You are the purchaser. You are planning to buy hairdryers to sell to your retail outlets. You are planning to purchase between 200 and 300 hairdryers per month. You have been quoted a unit price of £10 per hairdryer. Telephone the supplier (B) and negotiate as much discount as possible.

Partner B: You work for a supplier of electrical goods. You will receive a telephone call from A. She will want to negotiate the best price possible for a regular order of hairdryers. Here are some figures for your telephone call. Don’t give too much away! Hairdryers prices:

Unit price: £10

Quantity discounts: 10 % 100+

15 % 200+ 20 % 500+

Cash discounts: 2 % for payment within 10 days

(normal terms: 30 days)

Seasonal discounts: 10 % (January) – to clear old stock Promotional allowances: not usual but could be negotiated

MANAGING CHANNELS

1. Pre-Listening Task

1.1. What are the advantages/disadvantages of exclusive versus selective agreements with agents?

1.2. What are the best ways to motivate agents to achieve their sales targets?

2. Listening and note-taking

Listen to the telephone call between a sales manager and one of his agents. As you listen, complete Chart 14.

Chart 14

3. Comprehension check

3.1. When did they set the targets?

3.2. Were the targets set by the sales manager alone?

3.3. What is the agent’s excuse for not reaching the targets as a

whole?

3.4. What is the agent’s specific excuse for not reaching the target

for the XR 100?

3.5. Why is the sales manager pleased with the results on the XR 120?

4. Language focus

4.1. Responding positively and negatively. Look at the following responses taken from the Listening passage:

Exactly!

Okay

Yes, well ...

That’s fine

Oh ... that’s rather disappointing. Now choose the most appropriate response:

4.2. Modifiers/softeners.

Look at the following extracts from the Listening passage:

«In a way, it has been...»

«Well, perhaps I was a bit over-optimistic».

«It’s just a question of giving up more time».

Insert one or two of the following words/phrases in order to modify/soften the sentences below:

just perhaps a bit in a way

1. He’s too ambitious.

2. Let’s go through your figures.

3. We’re growing too fast.

4. He’s much too direct.

5. We are a little late.

6. Your products are expensive.

7. I’m unsure of your liquidity. 8. That’s not good enough.

5. Transfer

Write a short memo re. your agent in Italy (Giorgio), summarising his recent results and making recommendations for action.

ORDER PROCESSING

1. Pre-Listening Task

1.1. Do you think marketing people should get involved in delivery problems?

1.2. What are some of the classic excuses for late delivery?

2. Listening and note-taking

Listen to the two telephone calls between a customer and member of the sales department. As you listen, note down the details of the deliveries in Chart 15.

Chart 15

3. Comprehension check

3.1. How did you think the supplier handled these telephone calls?

3.2. How did you think the customer handled these calls?

4. Language focus

4.1. Time prepositions.

Look at the following sentences taken from the Listening passage:

«I know our orders are dispatched at the end of every week».

«We should be able to get them to you by the beginning of next week».

Now complete the following sentences with one of the prepositions below:

at in by on

1. Your delivery will be with you _______ two weeks, at the latest.

2. We expected delivery ______ the 21st. They are now promising delivery ______ Tuesday. 3. It’ll be dispatched _________ Tuesday, _________ the earliest.

4. We normally receive your order ______ the beginning of the month and we deliver __________ the middle of the following month.

5. You assured us of delivery ______ the end of the month, if not sooner.

6. We dispatched the goods to you _______ the afternoon. They should be with you ________ tomorrow morning.

4.2. Telephoning

Look at the following sentences taken from the Listening passage:

«Look, can I call you back?»

«Right, I’ll phone you back in the next ten minutes». Now reorder the following telephone call between:

A: Geoff Peters, a conference guest

B: Martine Donaugh, a conference organiser

A: Fine, have you got my number?

B: Hello, Mr. Peters. This is Martine Donaugh. How can I help you?

A: It’s 031-465-389, extension 26. B: Oh, I am sorry. You haven’t received it then?

A: Hello, this is Geoff Peters, I’m phoning about the conference

next week. B: Right, I’ve got that. I’ll call you back in a few minutes. Goodbye.

A: No, and the conference starts tomorrow.

B: I’m sure I have, but just in case, I’ll take it again.

A: Well, you promised to send me details of travel and accommodation.

B: Of course. Look, can I check the file and call you back?

A: Goodbye.

5. Word study

Here are three verbs that are often confused:

to supply to deliver to dispatch

Check their meaning and usage in a dictionary. Then complete the following sentences with the appropriate form of one of them: 1. He’s been our sole ________________ of steel for twenty years.

2. We expected ___________ by the end of the month.

3. We have asked them to quote for ________ 20 units per month.

4. When I phoned the ______ about our ______, he said it hadn’t

even been ______ from their depot.

5. The ______ department is responsible for checking all finished goods before they are packed.

6. __________ who can’t ____________ on time will not survive.

6. Discussion PAIR WORK

Partner A: You are to telephone your supplier concerning the following order:

Order no: XY/554/22

Product: Electric irons

Quantity: 500

Delivery date: 21 March

Today’s date: 15 April

Partner B: You represent Klondike Electronics. You were expecting a delivery of electric irons from overseas two months ago. The manufacturer has severe production problems. You are trying to find a new source/supplier for these irons.

SELLING TACTICS

1. Pre-Listening Task

1.1. How important is it for a salesperson to ask questions?

1.2. What sorts of question should a salesperson ask?

2. Listening and note-taking

Listen to the sales call. As you listen, complete the checklist in Chart 16.

Chart 16

SALES CALL CHECKLIST

Prospect: Davidson & Sons

Size: 20 employees

Business: Management Consultants

Situation:

Type of correspondence a.__________________________________________

Amount of correspondence b.________________________________________

Person responsible с.______________________________________________ d Problem: (tick or cross) (I) No clear responsibility

(II) Post Office too far

(III)Takes too longNeed:

e ______________________________________________________________Any objections:

f ______________________________________________________________Solution:

g ______________________________________________________________Additional benefits:

h ______________________________________________________________

3. Comprehension check 3.1. How would you describe the salesperson’s approach?

hard sell/soft sell

sales-oriented/customer-oriented

talking/listening leading/non-directed

3.2. Do you think he was a good salesperson? Would you recommend any improvements?

4. Language focus

4.1. Question techniques

Look at the following sentences taken from the Listening passage: «Could you tell me what sort of correspondence goes out from this company?» «That could be more when you’re doing a mailshot...? Look at the following three types of question:

Indirect (polite): Could you tell me what...? Direct: What ... / Do you...?

Leading. That could be more (couldn’t it)?

Change the following questions as indicated:

1 Could you tell me why you don’t have a computer?

Direct: _______________________________________________ 2. How many employees do you have?

Indirect: ______________________________________________ 3. Do you plan to take on more employees?

Leading:______________________________________________ 4. Are you finding business more difficult at the moment?

Leading:______________________________________________

5. Would you mind telling me if you have any problems recruiting staff?

Direct: _______________________________________________ 6. Do you pay over the market rate?

Indirect: ______________________________________________ 7. Have you fired anybody recently?

Indirect: ______________________________________________ 8. Could you tell me whether you are a director?

Leading:______________________________________________

9. You’re facing severe financial difficulties, aren’t you? Direct: _______________________________________________ 10. You don’t intend to stay in business any longer, do you?

Indirect: ______________________________________________

5. Word study

Time is sometimes an obsession, sometimes an excuse, and often a luxury. Below are some expressions associated with time. Group the expressions on the right under the headings on the left.

SALES CALL CHECKLIST _{f. I’m in a hurry}

g. We’ll have to prolong the project

Situation: 3. Length of time h. A couple of hours

_{No. of employees ____________________________________} i. It takes a good twenty minutes

j. It’ll last longer than we thought

^{No. of visitors _______________________________________} 4. Reducing time k. Time never stands still

Present coffee making facilities _________________________1. I’m rushed off my feet

m. I’ve got time to spare

Solution: PAIR WORK

Three models: Partner A: You want to sell an automatic office coffee machine to The Coffeemaker (makes enough for 6 cups) cost £45.00 your partner В. S/he is the office manager for a firm of lawyers You have managed to make an appointment but you know s/he will be The Coffeemaker Plus (12 cups) cost £60.00 short of time. Use the checklist below to conduct the sales The Coffeemaker Deluxe (112 cups ^call. + alarm when ready) cost £75.00

Partner B. You are the office manager of a firm of lawyers. You have agreed to meet a salesperson from a coffee machine company. You are short of time. Use the information below to answer the salesperson’s questions. Decide whether to purchase.

Situation:

Present coffee-making facilities: instant coffee made from boiling water or go out to coffee shop

just opposite the office

Problem:

Poor quality coffee for visitors Time wasted in going out for coffee

Need :

Reliable good quality coffee-making facilities

Objections: Cost maximum budget £40

CHOOSING THE MEDIA

1. Pre-Listening Task

Which media would you choose for the following products and target audiences:

(i) Perfume —> 25—35 year old women

(ii) A low-price automatic camera —> men and women 20—40 years old

(iii) An expensive lawn-mower —> 40—60 year old men

2. Listening and note-taking

Listen to an extract from a meeting in which product and advertising managers are discussing the media mix for a new line in trainers aimed at teenagers. As you listen, complete Chart 17 by indicating with a tick (-) which media is preferred.

Chart 17

3. Comprehension check

Grade the above media in terms of the following criteria (1 = best, 5 = worst):

1. Relative cost

2. Flexibility (booking, planning, lead time)

3. Reach (percentage of target audience exposed to advertisement)

4. Attention (percentage of target audience interested in the advertisement)

5. Selectivity (accuracy of media in reaching right audience)

4. Language focus

4.1. Suggest/recommend.

Look at the following sentences taken from the Listening passage: «I’d recommend we think in terms of twenty peak time slots...» «Maybe we could consider TV to establish a brand image...»

Now make suggestions/recommendations from the following prompts:

1. I/propose/invest/TV advertising

2. He/suggest/use/outside advertising

3. They/recommend/forget/radio

4. We/consider/place/print ads/prestige magazines

5. He/advise/us/reduce/advertising budget

6. I’d like/suggest/look at/new media

7. We / strongly recommend / you / study / TV ratings

8. Let us/think/targeted ads/trade journals

4.2. Emphasis — word order.

Look at the following sentences taken from the Listening passage: «What I suggest we do is go for ten slots...»

Now change the following sentences so that they are more emphatic:

1. We should target this age group very carefully.

What we ________________________________________________.

2. We need to concentrate on direct sales.

3. They must reduce their advertising budget.

4. I recommend you try to reach the department stores.

5. We feel you have missed an opportunity.

6. They thought we had spent too much on outdoor advertising.

7. He expected us to hire a professional singer.

8. I propose you limit your advertising to radio.

5. Word study

Match the words/expressions in the left-hand column with their definitions/ explanations in the right:

6. Discussion

Discuss the media mix which you feel would be appropriate for:

Product: a new line in fashionable sports clothing

Producer: well-known name in sports sector

Price: high price

Target: men and women 30—45 years old

Objective: to achieve market share first, profits second

LEARNING FROM MISTAKES IN FOREIGN MARKETS

1. Pre-Listening Task

1.1. How quickly should a company expect to see a return on its investment when entering a foreign market?

1.2. How important do you think it is to employ local staff when entering a foreign market?

2. Listening and note-taking

Listen to the meeting where the failure to penetrate export markets is being discussed. As you listen, complete Chart 18.

Chart 18

3. Comprehension check

If you were recruiting a sales representative to help you penetrate a foreign market, how would you rank the following skillscharacteristics?

a. Knowledge of the local market

b. Knowledge of the product sector

c. Selling skills

d. Knowledge of local language

e. International experience

4. Language focus

4.1. Conditional III.

Look at the following sentences taken from the Listening passage:

«Our results would have been better if we’d relied less on agents...»

«If I’d known how conservative German customers were going to be, I would have recommended a joint venture...»

Now complete the following sentences by putting the verbs in the right form.

1. If we ________ (do) research beforehand, we ________ (not make) so many mistakes.

2. We ________ (never enter) the market if we ________ (know) the problems.

3. In hindsight, we _________ (do) better, if we _________ (concentrate) on big firms.

4. Looking back on it, we ___________ (penetrate) the market if we ______ (not use) agents.

5. If only I _______ (know), I ___________ never (recommend) it.

6. We ____ not (be) where we are today, if we ___________ (not take) risks.

4.2. Chairing.

Look at the following extracts from the Listening passage:

«Geoff’, why don’t you start with France?»

«So what you’re saying is...»

Match the expressions with their chairing function:

5. Word study

Complete the phrase by matching the word/expression on the left with its best association on the right:

CORPORATE VERSUS SUBSIDIARY STRATEGY

1. Pre-Listening Task

1.1. In a local market (one country) what advantages does a multinational company have over a national company?

1.2. What do most consumers think of multinational companies?

2. Listening and note-taking

Listen to the extract from a meeting between a representative from corporate headquarters in America and the marketing manager of a recently acquired Japanese company. As you listen complete Chart 19.

Chart 19

Corporate strategy:

Objective 1: ____________________________________________________

Objective 2: ____________________________________________________ Local objections to:

Objective 1: ____________________________________________________

Objective 2: ____________________________________________________

3. Comprehension check

3.1. Do you think Mr. Stone handles this meeting well?

3.2. Do you think Mr. Tokaido handles this meeting well?

3.3. If you were in their shoes, would you approach the problem differently?

4. Language focus

4.1. Participating in meetings

Look at the following sentence taken from the Listening passage:

«I appreciated your concern but I think you have to see...»

Now match the expressions below with the appropriate function:

5. Word study

Find the opposites of the following words and expressions.

1. high profile

2. to stand alone

3. long-established

4. presence

5. excellent results

6. to be aware

7. well-segmented

8. strongly linked

9. to diversify

10. to expand

11. to benefit from

6. Discussion

Present or discuss the benefits of a strong corporate identity from a global marketing point of view.

NEGOTIATING A LOAN

1. Pre-Listening Task

What aspects of a company’s business will a lender be interested

in? How will he decide whether to lend money or not?

2. Listening and note-taking

Listen to the meeting between a bank manager and one of her customers. As you listen, complete the information below:

Reason for loan: _______________________________________

Amount of loan: ________________________________________

Term of loan: __________________________________________

Interest rate: ___________________________________________

Current installment: _____________________________________

Security: type: _________________________________________ market value: __________________________________

Turnover: _____________________________________________

Profits: _______________________________________________

Assets: _______________________________________________ Liabilities: ____________________________________________

3. Comprehension check

3.1. How could the firm raise £50,000 towards the cost of the

property? 3.2. What are the firm’s projections for turnover and profits?

3.3. What is its current overdraft?

3.4. Who does it owe money to?

4. Language focus

4.1. Asking questions — direct forms.

Look at the following questions taken from the Listening passage:

«How much are they asking for it?»

«Are you. looking for a loan to cover the lolal price?» Now ask questions for the following answers:

1. A: We’d like to borrow £20,000.

2. A: It’s for a new computer system.

3. A: Yes, we’ve had three quotations. This is the best.

4. A: No, it’s not the full amount. It’s actually costing £25,000.

5. A: We’d like to repay it over five years.

6. A: Yes, I realize the total interest payment will be high.

7. A: Well, we thought our existing security arrangements would cover it. 8. A: Well, you have second mortgages on two partners’ houses.

9. A: At present values, I’d say £200,000-£100,000 for each.

10. A: No, that’s all. We’d be grateful if the paperwork could go

through as soon as possible.

4.2. Questions — statement type.

Look at the following questions taken from the Listening passage: «But ideally you’d like to borrow the full £300,000 (wouldn’t you)?»

«Perhaps you can leave the figures with me?»

Now change the following direct questions into leading (statement) questions. Question tags are optional.

1. Would you like to extend the repayment period?

2. Have you got any financial problems at the moment?

3. Do you see any improvement in your cash flow?

4. Can you offer any form of collateral?

5. Could you tell me if your current liabilities are higher than usual?

6. Would you mind telling me whether you intend to reduce the payment periods?

5. Word study

Match the words/expressions on the left with an appropriate combination on the right, to make an idiomatic phrase:

6. Discussion

Use the information and the language above to discuss the loan. Would you lend the money? If so, why? If not, why not?

PRESENTING A CASH FLOW FORECAST

1. Pre-Listening Task

1.1. How does a company calculate its needs for working capital?

1.2. How can a company improve its cash flow?

2. Listening and note-taking

Listen to the presentation of a cash flow forecast. As you listen, fill in the missing figures in Chart 20

Chart 20

3. Comprehension check

3.1. Why are there no sales receipts until the second month?

3.2. Are his forecasts for overheads over-optimistic?

3.3. Does he think the rent is too high?

3.4. Why has he decided not to lease equipment?

4. Language focus

Future reference — forecasting

Look at the following sentences taken from the Listening passage:

«The sales will not begin to picture until the second month...»

«After that, they rise quite rapidly to reach...»

Now choose between the following three forms to complete the dialogue below:

will + verb (e. g. will rise) present simple (e. g. rises) going to + verb (e. g. is going to rise)

A: When _________ you (plan) to open the factory?

В: We ______ (reckon) it _______ (open) at the beginning of July. A: In the meantime, ________ you (promote) your product?

B: No, we ________ (hope) to start selling in July.

A: So you ________ not (expect) any orders in July?

B: Probably not, we ______ (anticipate) orders ______ (come) in from August onwards.

A: What level of sales _______ you (forecast) for August?

B: Well, we ______ (project) sales of about £20,000.

A: That _______ (sound) very optimistic. ______ you (have) the figures to support that?

B: No, not on me. We ______ (inform) all prospective customers by direct mail and we ______ (be) confident of £20,000 sales, as an early result.

A: The effect of direct mail ______ (be) notoriously difficult to predict. _______ you (do) anything else?

B: Yes, we ________ (telephone) all major users in the industry and arrange appointments.

5. Word study

Match up the verbs with a suitable preposition to form an expression:

Verb Preposition Object

6. Discussion

Analyse the cash flow forecast (Chart 20). Discuss whether you would give this entrepreneur a bank overdraft.

PROFIT AND CASH FLOW

1. Pre-Listening Task

How can a company be highly profitable but short of cash?

2. Listening and note-taking

Listen to the extract from an internal meeting. Two managers (one finance, the other marketing) are discussing the company’s cash flow problems. As you listen, complete Chart 21 by ticking the problems which Pete and Simon analyse as the causes of the cash flow problem:

Chart 21

3. Comprehension check

3.1. What have they recently invested in?

3.2. Why has the depreciation figure been so low in the P&L account?

3.3. How have they managed to increase their margins so substantially?

3.4. What happened to the funds which were retained for tax?

4. Language focus

4.1. Opinion-giving

Look at the following extracts taken from the Listening passage:

«In my opinion , the fundamental problem is our deferred terms of payment...»

«I think you’re exaggerating...»

Now classify the following expressions as strong (S), neutral (N) or Weak (W).

1. In my opinion...

2. There are two sides to the argument... 3. I’m absolutely convinced...

4. I tend to think... 5. It’s true that...

6. There’s absolutely no doubt that...

7. We believe...

8. I’m inclined towards saying...

9. I’m sure you’ll agree with me...

10. Don’t you think we should...

4.2. Agreeing and disagreeing

Look at the following extracts taken from the Listening passage:

«Yes, that’s probably true but I feel...»

« I resent that. .. I think my department...»

Now match phrases of agreement with those of disagreement. Match them so that they carry a similar strength of feeling:

COSTING AND PRICING A NEW PRODUCT

1. Pre-Listening Task

How does a company decide on an appropriate price for a new product?

2. Listening and note-taking

Listen to an extract from a meeting in which the costing and pricing of a new product are discussed. As you listen, complete the cost/price breakdown in Chart 22

Chart 22

3. Comprehension check

3.1. What is the difference between direct (variable) costs and fixed (overhead) costs?

3.2. What sorts of mark-up would you expect in the following sectors: food, consumer durables (e.g. televisions), and services (e.g. consultancy, training)?

3.3. Why does a drop in production mean an increase in total cost per unit?

3.4. What is the advantage of setting a discounted retail price?

4 Language focus

4.1. Conditionals I and II

Look at the following sentences taken from the Listening passage:

«What if we achieve higher sales through a lower retail price?»

«If we lost sales through too high a price, it would jeopardize the whole project».

Now complete the following sentences:

1. If we _______ (set) a market price of £13, what _______ that (do) to sales?

2. We _______ still (protect) our margins if we fixed a price of

£11.50.

3. If the market could bear it, we _____ (able to) push the price up.

4. We would lose market share if our competitor _______ (drop) its price.

5. I ________ (resign) if I ________ (win) the lottery.

6. Unless there is a price war, we _________ (make) a good profit.

7. If production __________ (fall), our unit costs will go up.

8. We _______ not (offer) a discount if the retailers are prepared to limit their margins.

4.2. Verb + preposition

Look at the following sentences taken from the Listening passage:

«So can we all agree about the facts?»

«That’s a fair average based on projected sales figures...»

Now complete the following sentences by inserting one of the prepositions below:

on up at to from out with for down

1. We compared our prices ____________ our competitors’.

2. Do you agree ________________ Peter?

3. They agreed ________ the project and signed the contract.

4. These figures have been worked ____ by our accountants.

5. Sales are likely to respond quickly ____ changes in price.

6. If we push ______ the price, sales might come _____________.

7. Are you prepared __________ the price war?

8. We aimed ______ a lower price than our competitors. 9. We set the price _______ £12.50.

10. We prevented the competitors ________ gaining market share.

5. Word study

Match the expressions on the left with their best equivalents on the right:

1. projected a. shop

2. achieve b. perceived value

3. mark-up c. cautious

4. retail outlet d. endanger

5. elastic f. forecast

6. set (a price) g. increase

7. jeopardize h. reach

8. conservative i. responsive to price

9. push up (the price) j. margin

10. price the market can bear k. fix

6. Discussion

Speak on the pricing of the above product. Use these headings.

Introduction

Findings

Conclusions

Recommendations

VALUING GOODWILL

1. Pre-Listening Task

1.1. What does the goodwill of a company really represent?

1.2. How can the goodwill value be calculated?

2 Listening and note-taking

Listen to the extract from a meeting to discuss the valuation of the company. As you listen, complete Chart 23.

Chart 23

3. Comprehension check

3.1. Why are Technics interested in this firm? 3.2. Why won’t they be interested in the assets?

3.3. What will the current net asset value cover?

3.4. Are the firm’s net profits outstanding?

4. Language focus

4.1. Continuous verb forms

Look at the following extracts taken from the Listening passage:

«Technics will be looking for a good return on their capital...»

«We should be looking for a goodwill figure of about £500,000...»

Now decide whether you can use a continuous form of the verbs in italic to stress the ongoing nature of an event in the following sentences. Where it is possible, change the verb.

1. We will make a profit of $100,000 this year.

2. We should invest in time share deals.

3. They have reported a £20 million loss.

4. They have lost money continuously.

5. We invested £10 million in the project and we lost it all.

6. We recruited salesmen throughout the year.

7. He always talks about things; he never does them.

8. We attract offers regularly.

9. She has acquired two companies recently.

10. He has acquired companies all his life.

4.2. Verb + preposition: to look ...

Look at the following sentence taken from the Listening passage:

«Technics will be looking for a good return on their capital…»

Now complete the following sentences with an appropriate preposition:

1. If you look ______ your current figures, they don’t make happy

reading.

2. We’ve taken on a consultant. She’s going to look _______ our

supply chain.

3. You shouldn’t look ______ to consultants. They make mistakes like the rest of us.

4. We’ve been looking ______ a new bookkeeper for weeks;

maybe we need to advertise nationally.

5. I looked _____________ the telephone number in the directory.

6. Finance managers should never look ________ on other departmental managers, just because they don’t understand finance. 7. We’re looking ______ the possibility of subcontracting some of

the production. It looks __________ if it may be possible.

8. If you look _______ the pennies, the pounds will take care of themselves.

5. Word study

Talking about figures. Study how we can be more or less precise when we discuss figures:

Listen to the cassette. You will hear a number of figures. Round them up or down and use one of the above phrases. For example:

199,400 around 200,000

just under 200,000

6. Transfer

Present the analysis of the valuation using Chart 23 above.

BUSINESS ANALYSIS

1. Pre-Listening Task

What business data would you like to have in order to judge the performance of a company?

2. Listening and note-taking

Listen to an internal meeting between a finance manager and head of marketing. As you listen, complete chart 24.

Chart 24

3. Comprehension check

Do you think the marketing manager is turnover-oriented or profitoriented?

4. Language focus

4.1. Present continuous

Look at the following sentences taken from the Listening passage:

«We’re operating in three major sectors of consultancy work...»

«These three sectors are growing at different rates...»

Now decide if the verbs in italic in the sentences below need to be changed to the present continuous. If so, change them:

1. We currently hold about 10 per cent of the financial consultancy market.

2. The human resource sector expands rapidly at the moment.

3. He always works too hard.

4. We gain market share in the present climate.

5. If this recession continues, we will lose our position.

6. What does he do? He telephones America.

7. I feel we should withdraw from the market.

8. I wait for the results of the survey. Then I will decide.

4.2. Presentation-linkers

Look at the following extracts from the Listening passage:

«So let me start by reviewing where we stand».

«I was just coming to that. Before I do, let me just add...»

Now match the phrases with the functions for structuring a presentation:

5. Word study

Match the words/expressions on the left with the best synonym on the right:

6. Discussion

Which are the most important constraints and opportunities for a company?

Financial constraints/opportunities

Marketing constraints/opportunities

Personnel constraints/opportunities

Others

ETHICS IN ACCOUNTING

1. Pre-Listening Task

1.1. What are the advantages/disadvantages of valuing fixed assets at historical cost?

1.2. What should an auditor’s attitude be towards deferred items

which are difficult to quantify with any certainty?

2. Listening and note-taking

Listen to the discussion between an auditor and a finance manager. As you listen, complete the table below.

Chart 25

3. Comprehension check

3.1. Why doesn’t the finance manager want the assets entered into

the accounts at actual value?

3.2. Why does the auditor feel they should be revalued?

3.3. What is the extraordinary item intended to cover?

3.4. Is it likely to be enough? 3.5. Why doesn’t the finance manager want more set aside?

4. Language focus

4.1. Short responses

Look at the following responses taken from the Listening passage:

«True, but we’d be a much bigger target...»

«Good, let me...» «Really, then I...»

Now match the best responses with the statements/questions:

4.2. Meetings — controlling and structuring.

Look at the following extracts taken from the Listening passage:

«There are a couple of issues I’d like to bring up».

«Right, there’s another issue».

Now match the expressions with the functions they perform:

5. Word study

The adjectives below can all be used to describe an auditor’s work. Categorise them under the five key adjectives.

honest independent relevant prudent consistent

____________ ____________ ____________ ____________ ____________

____________ ____________ ____________ ____________ ____________

____________ ____________ ____________ ____________ ____________

____________ ____________ ____________ ____________ ____________

ANALYSING PERFORMANCE

1. Pre-Listening Task

1.1. What are the problems of analysing companies from their annual reports?

1.2. Ноw can you judge future performance from past results?

2. Listening and note-taking

Listen to the extract from a meeting in which two companies are being compared. As you listen, complete Chart 26.

Chart 26

3. Comprehension check

3.1. How do you think R&D costs should be accounted for in the P&L account and balance sheet?

3.2. How do you think goodwill should be accounted for when acquiring a company?

4. Language focus

4.1. Meetings — introductions and controlling

Look at the following extracts from the Listening passage: «Okay gentlemen, let’s get started».

«So, John, would you like to put us in the picture?» Now match the expression with its function in a meeting.

Function Expression

1. Opening the meeting a. Peter, would you like to start the ball rolling?

2. Agreeing the agenda b. Just a moment. Let John finish.

3. Introducing the first item c. Let me just recap then. What we’ve agreed is ...

4. Asking for contributions d. Okay, let’s get down to business.

Function Expression

5. Paraphrasing/clarifying e. If I understand you correctly, you’re saying ...

6. Asking for further contribu- f. Michael, that’s interesting. Let’s hear from tions somebody else.

7. Allowing somebody to finish g. Has anybody anything further to add?

8. Stopping someone talking h. Has everybody seen the agenda? All happy with it?

9. Summarising i. So, let’s call it a day. 10. Closing the meeting j. Let’s move straight away to the first item.

4.2. Degree – modification of adjectives

Look at the following sentences taken from the Listening passage:

«On the face of it, Saxon performed much better than Pixbury last year».

«Pixbury have a much more modest figure...»

Now classify the following adverbs of degree as strong (S), neutral (N) or weak (W).

4. quite a lot 8. marginally

5. Word study

Group these words under the four headings given below:

dynamic state-of-the-art substantial low-key enterprising modest conservative go-ahead high-tech cautious healthy leading edge advanced strong modern

thrusting robust

Forward-looking Technology Asset base Reporting policy companies

__________________ __________________ __________________ __________________

__________________ __________________ __________________ __________________

__________________ __________________ __________________ __________________

__________________ __________________ __________________ __________________

6. Discussion

Pick two more companies in one sector. Use their past results (annual reports) to analyze potential future performance.

BRIEFING ON PERSONAL TAXATION

1. Pre-Listening Task

1.1. How is personal taxation structured in your country?

1.2. Is the trend in the load of personal taxation upwards or downwards?

2. Listening and note-taking

Listen to the presentation about personal taxation in the UK. As you listen, complete the information in Charts 27 and 28 (referred to in the tapescript as transparencies).

Chart 27

PERSONAL TAXATION

Chart 28

COLLECTION OF PERSONAL TAXES

3. Comprehension check

3.1. How are the two parts of Geoff’s presentation structured?

3.2. What does Geoff suggest the majority think of British tax?

3.3. What new legislation has recently been introduced?

3.4. What do you think the government uses national insurance contributions for?

4. Language focus

Presentations

Look at the following extracts from the Listening passage:

«Right, I’ll hand you straight over to Geoff»

«Good afternoon, ladies and gentlemen...»

Now match the expressions with the functions they perform in a presentation (match them under the three headings).

Functions EXPRESSIONS

INTRODUCTION

1. Introducing the subject a. I’ve divided my presentation into two parts

2. Time limits b. I’ll try to answer your questions at the end

3. Giving an outline c. What I’d like to do is talk to you about

4. Place of questions d. I know you’re short of time so I’ll be brief

Functions EXPRESSIONS

MAIN PART

1. Introducing first point a. I’ll come to that later

2. Closing first point b. In other words

3. Referring forwards c. As I mentioned earlier

4. Referring backwards d. That brings me on the next point

5. Digressing e. So, let’s start by considering

6. ^Moving point ^{on to next} f. That covers my first point

7. Clarifying g. By the way, you may be interested to know

8. Dealinginterruptions with h. If you don’t mind, I’d prefer to leave that till later

Functions EXPRESSIONS

CONCLUSION

1. Summarising a. Thank you for your attention

2. Concluding b. I’d be delighted to answer your questions

3. Closing c. We can draw the following conclusions

4. Inviting questions d. So, let’s just go over the main points again

5. Discussion

Prepare and give a presentation about personal taxation in your country.

PLANT LOCATION DECISIONS

1. Pre-listening task

1.1. What are the prime factors which must be taken into account when deciding on the location of a new factory?

1.2. How would you rank these factors in order of importance?

2. Listening and note-taking

Listen to an extract from a meeting in which the location of a new plant is the issue under discussion. As you listen, complete Chart 29 which is referred to during the meeting as a transparency.

Chart 29

I = best score 2 = medium score 3 = worst score

3. Comprehension check

3.1. What is meant by communications ?

3.2. What are the two aspects of labour force to be considered?

3.3. Why should a manufacturing plant be regarded as a cost rather than a profit centre?

3.4. How could prices be structured internally to take advantage of varying tax rates?

4. Language focus

4.1. Questions -softening

Look at the following questions from, the Listening passage:

«Just before you move onto tax, can I ask you about the plant construction?»

«I was wondering whether any of the countries we are considering...»

Make the following direct questions more indirect/softer:

1. What about tax incentives?

2. Do they offer help with investment?

3. Did the tax authorities advise you about transfer prices?

4. How much does the land cost?

5. Have you included the tax weighting in your calculations?

6. What do the rest of you think?

7. Are you thinking of siting the plant in Scotland?

8. Why won’t you consider Germany?

4.2. Clarifying

Look at the following extracts taken from the Listening passage:

«The third factor is the plant construction cost, i. e. the initial investment cost».

«What do you mean» — Well, simply…» Now complete the dialogue below:

A: We’ve been trying hard to avoid double taxation? B: ________ mean?

A: ________ paying tax twice — first in the country of payment and secondly in the country of residence.

B: So, if ________ correctly, you _______ the expatriate workers could have to pay tax here in Saudi and again back in the US. A: That’s _________. We have approached the US tax authorities and it seems there is a double taxation agreement between the two countries but it is time dependent...

B: ___________ slowly?

A: Of course, what I ______ was that it is possible to avoid double taxation but it depends on how long the expatriate works in Saudi. Now, most of our contracted workers are on short contract varying from 60 to 120 days. The US tax authorities are prepared to waive tax after six months.

B: So are you ___ that our guys are going to have to pay tax twice.

A: Yes, but it could be redeemable _______ they could get the tax back later...

5. Word study

Study the expressions used to rank locations:

first scores highest way/slightly ahead on top

second in the middle way/just behind

third scores lowest lagging behind at the bottom

plus: there’s little to choose between to come down in favour of Using the following information, complete the sentences below.

1. Jane __________ highest in terms of __________.

2. She ___________ the others in experience.

3. Susan is _____ Jane in terms of literacy but _____ on numeracy. 4. There’s ______ Susan and Tessa in terms of experience.

5. Tessa comes out _________ in literacy.

6. Transfer

Look back at Chart 29. Go over the factors again in discussion. Try to reach a decision based on the information you have available.

DISCUSSION OF PRIVATISATION

1. Pre-Listening Task

1.1. Do you think privatisation of nationalised infrastructure industries (e.g. telecommunications, post, railways) makes good financial and commercial sense?

1.2. What is the policy towards privatisation pursued by your

country’s government?

2. Listening and note-taking

Listen to the extract from a TV panel discussion about privatisation. As you listen, complete Chart 30.

Chart 30

3. Comprehension check

3.1. How can it be argued that privatisation ties the shareholder to the Tory party?

3.2. Many privatisations are preceded by write-offs of long-term government debts. Do you think this gives the newly privatised companies an unfair competitive advantage?

3.3. Why are civil servants more likely than business people to protect the long-term interest of the nation?

3.4. Peter Smyth admits that British Telecom privatisation was beneficial for some. Whom?

3.5. What type of elector is Peter Smyth representing?

3.6. What does Peter Smyth’s sarcastic remark about BT’s public

relations suggest?

4. Language focus

4.1. Presentations — introducing subjects

Look at the following extracts taken from the Listening passage:

«We’re here tonight to discuss the pros and cons...»

«On the political side , we have...»

«On the financial front ,...»

«From industrial point of view ...»

Now match the subject introduction with the content notes:

4.2. Relative clauses

Look at the following extract taken from the Listening passage:

«There are those who believe that water, telecommunications and gas, to name but three, have all been successful privatisation issues which have led to major restructuring and financing...» Now combine the following sentences:

1. There are twenty people. They are waiting outside. They have been invited to the show.

2. The government spokesman. He comes from the Finance Ministry. He is going to speak on the programme.

3. Telecommunications was privatised six years ago. It has always been very profitable.

4. The government has followed a policy of privatisation. It was first elected eleven years ago.

5. Peter Smyth is an opposition spokesman on Trade and Industry.

Peter Smyth starts the discussion.

5. Word study

Complete the expressions by matching left and right columns:

Use Chart 30 to discuss the pros and cons of privatization.

GLOSSARY

A

a shares (n) non-voting shares

absorb (v) to take in a smaller item to form part of a larger whole; we

can absorb the loss of the subsidiary acceptance (n) the act of agreeing to accept a bill of exchange access (n) available entry; access to the market account (n) a record of financial transactions accountancy (n) work of an accountant

accountant (n) person qualified to keep a company’s accounts accounts (n) the financial records of a business; the bank would like to

see the accounts account executive (n) an advertising executive who looks after a particular client accrual (n) gradual increase by addition accruals (n) money owed which is due at a later date accrue (v) to increase and to be due at a later date

acid ratio (n) ratio of current assets minus stock to current liabilities;

used as a measure of solvency acquire (v) to buy; to acquired company

acquisition (n)act of buying: acquisition of a company across-the-board (adj) running an ad for five days

actuary (n) a professional insurance official responsible for estimating

future claims and premiums advance 1. (n) money paid as a loan or part payment 2. (v) to lend money; the bank advanced us £2000 advertise (v) to announce that something is for sale ad (n informal) short for advertisement

advertisement (n) notice or announcement that something is for sale advertiser (n) person or company which advertises

advertising (n) business of announcing that something is for sale; she’s

in advertising age group (n) category by which target consumers are classified

according to age; the product appeals to the 25—35 age group agent (n) a person authorized to carry out transactions on behalf of

another person

A1DA Attention, Interest, Desire, Action air time (n) time given to advertising on TV or radio

allocate (v) to give money in certain proportions; in the budget we

allocated most of the money to marketing amortise (v) to pay off a debt by saving money on a regular basis; the

total cost can be amortised in five уears annual (adj) for one year; the annual accounts

annual general meeting (AGM ) a meeting of all shareholders

anti-trust (adj) against monopolies; anti-trust laws appeal (n) being attractive

appropriate (v) to put a sum of money aside for a purpose appropriation (n) profit appropriation area (n) a region; his sales area is the North East

arbitrage (n) buying shares in a company which is likely to be taken

over arbitrager (n) person who buys and sells shares before and after a

takeover arrears (n) money which is owed and has not been paid on time art director (n) person responsible for creative work in an advertising

agency artwork (n) drawing, photographs, etc. used for an advertisement,

brochure, publicity material, etc.

assess (v) to calculate the value of

assessment (n) tax assessment; my tax assessment is always wrong asset (n) something of value which is owned by a company current assets (n) assets in daily use by a business fixed assets (n) property and machinery

frozen assets (n) assets which cannot be sold, usually because there is a

dispute intangible assets (n) assets which cannot be seen (such as goodwill, patents, etc.) liquid assets (n) cash or bills which can be easily converted into cash tangible assets (n) assets which can be seen (such as property,

machinery, etc.) asset stripping (v) buying a company in order to sell its assets assortment (n) combination or range of goods; the wholesaler’s

assortment is too wide attribute (v) to put a name to, to classify

attributable profits (n) profits whose origin can be identified audience (n) people who watch or listen to a TV or radio programme;

this ad will not reach its target audience audit (n) examination of the accounts of a company

auditing (n) official process of checking the accounts of a company to

see if they represent a true picture auditor (n) person who audits

authorised capital (n) amount of capital which a company is allowed to have average (n) number which is representative of many figures; the average

inflation rate is 10 per cent

B

В shares ordinary shares with special voting rights

back 1. (adj) referring to the past; I am owed a lot of back pay 2. (v) to support; the bank refuses to back the project

backdate (v) to put an earlier date on a document

backer (n) person/company who financially supports someone; our

American backers have pulled out of the project backing (n) financial support

back office (n) the department in a firm of stockbrokers which deals with

settlement procedures bad debt (n) debt which will not be paid

balance (n) amount which makes the total credits and debits equal balance brought forward (bbf) (n) amount entered at the start of an

account which represents the balance from the last period balance of payments (n) international financial position of a country

(account of imports, exports and invisible earnings) balance sheet (n) statement of the financial position of a company or

business at a certain moment bank charges (n) charges a bank makes for services provided to a customer bank draft